The Week Ahead: Holiday, homes and big-ticket items

U.S. markets will be closed on Thursday for the Thanksgiving Day holiday. The U.K., Japan and Australia will be open as usual.

Two major reports are scheduled during the week, existing home sales on Tuesday at 10 a.m. New York time and durable goods orders on Wednesday at 8:30 a.m.

The Federal Open Market Committee minutes of the Nov. 1 meeting will be published on Wednesday at 2 p.m. The committee maintained its target range for the federal funds rate at 1 to 1-1/4 percent.

Fed Chair Janet Yellen will participate in a panel discussion at the New York University Stern School fo Business, on Tuesday beginning at 6 p.m. The event will be streamed live here.

Leading indicators (in descending order of importance):

The interest rate spread between 10-year Treasuries and the federal funds rate, reported continually during market hours.

The M2 money supply, at 4:30 p.m. Friday.

The S&P 500 index, reported continually during market hours.

Average weekly initial claims for unemployment, from the jobless claims report at 8:30 a.m. Wednesday.

Events arranged by day:

Tuesday: Existing home sales at 10 a.m.

Wednesday:  Jobless claims and durable goods orders, each at 8:30 a.m., petroleum inventories at 10:30 a.m. and FOMC minutes at 2 p.m.

Thursday: Markets closed in the United States.

Friday:  The Purchasing Managers Institute composite flash report at 9:45 a.m. and the M2 money supply at 4:30 p.m.

I also keep an eye on the Baltic Dry Index, updated daily, and the 5-year implied inflation rate which is the difference between the yields on 5-year U.S. Treasury notes and  5-year Treasury inflation protected securities (TIPS).

By Tim Bovee, Portland, Oregon, November 18, 2017


Tim Bovee, Private Trader tracks the analysis and trades of a private trader for his own accounts. Nothing in this blog constitutes a recommendation to buy or sell stocks, options or any other financial instrument. The only purpose of this blog is to provide education and entertainment.

No trader is ever 100 percent successful in his or her trades. Trading in the stock and option markets is risky and uncertain. Each trader must make trading decisions for his or her own account, and take responsibility for the consequences.

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